Devon Energy Corporation (NYSE:DVN) Receives Average Recommendation of “Moderate Buy” from Analysts

Devon Energy Corporation (NYSE:DVNGet Free Report) has been given an average rating of “Moderate Buy” by the thirty-one ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $46.2857.

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Raymond James Financial raised their price target on shares of Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Capital One Financial reduced their price objective on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Roth Mkm reissued a “buy” rating and set a $42.00 target price on shares of Devon Energy in a research report on Wednesday, December 31st. Finally, Johnson Rice cut their price target on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, December 5th.

Read Our Latest Research Report on DVN

Key Headlines Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $44.03 on Wednesday. The firm has a 50 day moving average of $38.52 and a 200 day moving average of $35.91. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $27.62 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 4.06 and a beta of 0.61. Devon Energy has a 52 week low of $25.89 and a 52 week high of $45.29.

Devon Energy (NYSE:DVNGet Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The business’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.10 EPS. On average, sell-side analysts predict that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Institutional Trading of Devon Energy

Institutional investors have recently bought and sold shares of the stock. PFS Partners LLC purchased a new position in shares of Devon Energy during the 3rd quarter valued at about $25,000. First Horizon Corp acquired a new stake in Devon Energy during the third quarter worth about $26,000. Caldwell Trust Co purchased a new position in Devon Energy during the second quarter valued at approximately $25,000. Ameriflex Group Inc. lifted its holdings in Devon Energy by 702.0% in the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after acquiring an additional 702 shares during the period. Finally, Accredited Wealth Management LLC lifted its holdings in Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after acquiring an additional 308 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Company Profile

(Get Free Report)

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.

Further Reading

Analyst Recommendations for Devon Energy (NYSE:DVN)

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